JPMorgan Chase & Co. $JPM Shares Acquired by Kingstone Capital Partners Texas LLC

Key Points

• Kingstone Capital Partners Texas LLC significantly increased its stake in JPMorgan Chase & Co. by acquiring nearly 72.9 million shares, representing a 609,867.5% boost during the second quarter.
• Several hedge funds, including GAMMA Investing LLC and Nuveen LLC, have also increased their holdings or entered new positions in JPMorgan, showcasing heightened institutional interest.
• JPMorgan Chase & Co. recently raised its quarterly dividend from $1.40 to $1.50 per share, reflecting a healthy 1.9% dividend yield and signaling strong financial performance despite a revenue decline year-over-year.

Kingstone Capital Partners Texas LLC increased its stake in shares of JPMorgan Chase & Co. (NYSE:JPM - Free Report) by 609,867.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,897,211 shares of the financial services provider's stock after purchasing an additional 72,885,260 shares during the quarter. JPMorgan Chase & Co. makes up 2.9% of Kingstone Capital Partners Texas LLC's holdings, making the stock its 12th largest position. Kingstone Capital Partners Texas LLC owned 2.62% of JPMorgan Chase & Co. worth $21,133,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in JPMorgan Chase & Co. by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 24,801,153 shares of the financial services provider's stock worth $6,083,723,000 after purchasing an additional 454,226 shares during the period. GAMMA Investing LLC increased its holdings in JPMorgan Chase & Co. by 25,861.9% during the 1st quarter. GAMMA Investing LLC now owns 23,556,011 shares of the financial services provider's stock worth $5,778,289,000 after purchasing an additional 23,465,278 shares during the period. Goldman Sachs Group Inc. increased its holdings in JPMorgan Chase & Co. by 2.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 20,548,182 shares of the financial services provider's stock worth $5,040,469,000 after purchasing an additional 548,853 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in JPMorgan Chase & Co. by 5.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 18,441,044 shares of the financial services provider's stock worth $4,523,588,000 after purchasing an additional 890,553 shares during the period. Finally, Nuveen LLC purchased a new stake in JPMorgan Chase & Co. during the 1st quarter worth about $3,972,807,000. 71.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at JPMorgan Chase & Co.

In other news, Director Linda Bammann sold 9,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $297.94, for a total transaction of $2,830,430.00. Following the sale, the director owned 82,207 shares of the company's stock, valued at $24,492,753.58. This trade represents a 10.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.47% of the stock is owned by insiders.

JPMorgan Chase & Co. Trading Down 0.3%

JPM traded down $0.81 during trading on Tuesday, hitting $311.64. 3,515,823 shares of the stock traded hands, compared to its average volume of 9,630,995. JPMorgan Chase & Co. has a 12-month low of $202.16 and a 12-month high of $316.31. The firm has a market capitalization of $856.92 billion, a P/E ratio of 15.99, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The firm has a 50-day moving average of $296.91 and a 200 day moving average of $269.93. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.88 and a quick ratio of 0.88.

JPMorgan Chase & Co. (NYSE:JPM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The financial services provider reported $4.96 EPS for the quarter, topping analysts' consensus estimates of $4.48 by $0.48. JPMorgan Chase & Co. had a net margin of 20.52% and a return on equity of 16.93%. The firm had revenue of $44.91 billion during the quarter, compared to analyst estimates of $43.76 billion. During the same period in the previous year, the business posted $6.12 earnings per share. The business's revenue for the quarter was down 10.5% on a year-over-year basis. Equities research analysts anticipate that JPMorgan Chase & Co. will post 18.1 EPS for the current year.

JPMorgan Chase & Co. Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 6th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Monday, October 6th. This is an increase from JPMorgan Chase & Co.'s previous quarterly dividend of $1.40. JPMorgan Chase & Co.'s payout ratio is 28.73%.

Analysts Set New Price Targets

JPM has been the subject of a number of recent research reports. Hsbc Global Res cut JPMorgan Chase & Co. from a "hold" rating to a "moderate sell" rating in a research report on Tuesday, July 8th. Wells Fargo & Company increased their price target on JPMorgan Chase & Co. from $325.00 to $345.00 and gave the company an "overweight" rating in a research note on Tuesday, September 16th. Cowen restated a "buy" rating on shares of JPMorgan Chase & Co. in a report on Wednesday, July 16th. Citigroup set a $275.00 target price on JPMorgan Chase & Co. and gave the company a "buy" rating in a report on Monday, July 7th. Finally, Truist Financial raised their price target on shares of JPMorgan Chase & Co. from $280.00 to $290.00 and gave the stock a "hold" rating in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, JPMorgan Chase & Co. presently has a consensus rating of "Moderate Buy" and an average price target of $292.78.

About JPMorgan Chase & Co.

JPMorgan Chase & Co is a financial holding company, which engages in the provision of financial and investment banking services. It focuses on investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. It operates through the following segments: Consumer and Community Banking (CCB), Commercial and Investment Bank (CIB), Asset and Wealth Management (AWM), and Corporate.